HOME › Research Insight › The Key Strategies Implemented by Most Companies in the 3D Metrology Market Include New Product Launches, Mergers & Acquisitions, Partnerships, Collaborations, Agreements, and Joint Ventures among Others
The Key Strategies Implemented by Most Companies in the 3D Metrology Market Include New Product Launches, Mergers & Acquisitions, Partnerships, Collaborations, Agreements, and Joint Ventures among Others
The 3D metrology market is expected to reach USD 10.90 Billion by 2022, at a CAGR of 7.0% between 2016 and 2022. The highly accurate inspection owing to three-dimensional data for modeling and analysis is an important driver for 3D metrology market. The data needs to be shared with production scheduling, design, purchasing, and many other manufacturing company functions to ensure the accuracy of manufactured products. Large amount of three-dimensional data is required to define a product adequately enough for precision inspection.
The key strategies implemented by most companies in the 3D metrology market include new product launches, mergers & acquisitions, partnerships, collaborations, agreements, and joint ventures among others. New product development was the key strategy adopted by players to increase their share in the 3D metrology market. The major players in 3D metrology market who follow these strategies are Hexagon AB (Sweden), Carl Zeiss AG (Germany), FARO Technologies (U.S.), Mitutoyo Corporation (Japan) and Nikon Corporation (Japan) among others.
Hexagon AB ranked the first in the 3D metrology market. The company offers CMM, 3D scanners, and video measuring machines which serve industries such as aerospace, agriculture, automotive, infrastructure & construction, metal & mining, power, and safety & surveying. New product development and merger & acquisition have been the major strategies adopted by the company. In 2016, Hexagon launched Leica Absolute Scanner LAS-20-8 for portable laser scanner for large-volume inspection applications. In 2015, the company launched several products such as GLOBAL EVO, PC-DMIS 2015 and HP-L-8.9 non-contact laser scanner. The company also acquired AICON 3D Systems and Forming Technology, Inc. in March 2016 which gives it an opportunity for international expansion using AICONís wider portfolio and Hexagonís global presence.
Carl Zeiss AG (Germany) ranked second in the 3D metrology market. The company offers CNC coordinate measuring machines and solutions for 3D metrology in research & development and production. The company has added image processing to the application of coordinate measuring technology with the introduction of optical and tactile measuring systems. The company has invested heavily in research and development which has increased the efficiency in the medical segment .New product launches and development has helped in improving the productivity and explore the growth opportunities for all the segments.
3D Metrology Market by Offering (Product, Software, Service), Product (VMM, CMM- Bridge, Gantry, Horizontal, Articulated Arm, Cantilever, ODS- Laser, Structured Light, Laser Tracker), Application, End-User Industry and Geography - Global Forecast to 2022
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